MAY 24, 2005

Champ Car buys Long beach

The Champ Car organization has bought the Long Beach Grand Prix from its previous promoters, thus assuring that the Champ Car World Series will continue to race at its most important event. This means that any attempt by another racing series to acquire the event has been seen off and so neither the Indy Racing League nor Formula 1 will be seen in Long Beach, unless there is a deal with the new owner, which is believed to be a company called Aquarium Asset Management, which is co-owned by Kevin Kalkhoven and Gerry Forsythe.

The previous owner Dover Motorsports is planning to use the money earned from the sale of its Long Beach asset to build up its NASCAR business at the other tracks it runs.